PERSPECTIVES

As the final third of the year approaches, there's a "new era" afoot. There is optimism in the air. 

Optimism? Really? 

Yes! And it could catch a lot of folks by surprise. 
 

Consider these "early warning signs" of approaching good news:

• Those surveys of "consumer attitudes" indicate that folks do reflect the news headlines regarding the economy – that is, respondents are pessimistic about "the economy." But when asked about their own financial situation, the responses were very positive; people feel good about their personal financial situation.

You've no doubt seen the headlines and the commentary:

• "Retailers Stumble Adjusting to More Selective Shoppers" *
   
• "Consumers Uneven Spending Fuels Caution Among Retailers" **

Consumer spending is up, but not on what was expected, especially those publicly-traded chains that must report quarterly. 

• "As people watched the prices of food and gas rise, their spending became more selective, leaving retailers with shelves of inventory they couldn’t get rid of." * 
   
• "Although some consumers are cutting spending on goods, it is being accompanied by increased spending on services," according to Mark Zandi, chief economist of Moody's Analytics. **

Artful Idea for Retention Bonus

We think this may be a very different 4th of July Holiday weekend. 

It will not be just about red, white & blue window displays, or flag waving, or fireworks displays. Instead, there is a new mood, a new attitude that is emerging. 

First, we believe that all shoppers are reeling from being swamped by some major and concurrent attention-grabbing events and trends affecting all of us. Seemingly with no end in sight.

"Retail is a mirror of society."

Just one week until Valentine's Day! Are you feeling the love yet?

• Tumult, rancor and uncertainty abound in the day's news.
• Big storms are pounding large areas.
• The pandemic is lingering.

What better time to send a love note to your customers? 

That's right. A Valentine. Just a Valentine. No strings attached! Show your love!

Heads up. You can take a grim situation and turn it into an advantage. 

Universally, there is a shortage of "good employees." While many will use that as an excuse, it can be a great opportunity for those who seize it.

That's why we paid particular attention to this commentary by Ty West in The Playbook*.

• "Businesses across a range of industries are struggling with both recruitment and retention, yet surveys and experts continue to show many are unwilling to change their strategies to improve their ability to compete."

And therein lies the opportunity.

See the forest, not just the trees

Now that we've put a wrap on 2021, and before we really dive into 2022, it's time to catch your breath and reflect on where we are after 2021. 

Perhaps like us you believe that fundamental and enduring changes have occurred; no one can operate on "auto-pilot" anymore. All of us have to learn new processes, and form new habits. What's it called? Oh yes; "embracing change." Lots of it. 

That's why it is a very opportune time, particularly for owners, to have a very active Q&A session with themselves.